Chromagen: Collecting Sunshine In Spain

New legislation in Spain has suddenly brought with it a huge demand for solar water heating systems. As we already featured here, Israel is a shining example of how a country can take advantage of passive solar radiation. Spain has recently brought an Israeli company on board- Chromagen- which is set to open a €5 million manufacturing facility in Seville, Spain. ::Globes (need registration)According to Globes, Chromagen will own 90% of the plant, and the manager of the company's former Spanish partner will own 10%.

Chromagen Espana, the company's Spanish subsidiary, recently obtained a grant from Spain's investment center for half of the €5m investment in the plant. Chromagen will not have to invest from its own resources in the plant, but will raise the money from Spanish commercial banks, backed by a full guarantee from the Spanish government as part of investment approval.

The factory's initial sales of solar panels are planned to reach 24,000 sq.m., one third of the 72,000 sq.m. currently sold in Spain.

Chromagen headquarted in Kibbutz Shaar Ha'amakim designs, manufactures and distributes high quality passive solar energy collectors. Here is a story about them in Australia. :: Globes